be in for a bit of a bumpy ride. as such, there's an opportunity to be defensive. look for some of those lower beta strategies. look for the defense sectors. >> in the meantime, it is pretty clear the markets are anticipating we're not going to go over this cliff, isn't it? >> yeah, they sure are. i'm surprised to see the level of optimism that congress is going to come to some resolution here. i think it's scary there's no plan "b." i kind of have three ideas of my own. the first one is let's get real, folks. if everybody on wall street thinks something is going to happen, there's a good possibility the opposite is going to happen. to me, i think it's a good time to maybe take a little money off the table, go to a little cash. the second thing is, when this market -- if we go into january without a deal, we could see a market drop on a level of what happened in 2008 when we failed to come to a t.a.r.p. agreement. 30% the market lost. >> that was a 700-point selloff. >> just like that. >> so joe, what do you think about that? i know you're saying, look, don't freak out, stay calm, assess the s